100 Speedway Dr Newark, OH 43055-7385
Property profile & analytics
100 Speedway Dr, Newark, OH 43055-7385
- Drive through restaurants
- 3,320 SF
- 1.21 lot acres
Property ID
US66-0946810
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Arby's / Restaurant / Take-out & Catering
Property Details for 100 Speedway Dr
- Year built
- 2007
- Lot size
- 1.21 lot acres
- Property type
- Drive through restaurants
- APN
- 020-042342-00.003
- APU
- 2004234200003
Description
This exceptional investment opportunity presents a 3,320 square foot Arby's restaurant located at 100 Speedway Drive, Hanover, Ohio 43055. The property sits on a 1.21-acre lot with 41 parking spaces and boasts excellent visibility from State Road 16, a high-traffic area with nearly 36,570 vehicles per day. The building, constructed in 2007, is currently operating at 100% occupancy under an absolute NNN lease with a corporate guarantee from Inspire Brands, the parent company of Arby's. The lease, originally commencing September 30, 2007, has recently been extended, providing a remaining term of 9.9 years with an expiration date of October 31, 2034. The lease includes four, five-year renewal options and features annual rent increases of 1.70%, offering a strong hedge against inflation. The current asking price is $2,053,000, resulting in a 6.00% cap rate and a net operating income (NOI) of $123,177. This property benefits from a prime location, with proximity to the Cherry Valley Hotel (200+ rooms) and a Speedway gas station. The surrounding area demonstrates ideal demographics, with over 46,000 residents within a 10-minute drive boasting an average household income exceeding $81,500. This is a passive investment opportunity with zero landlord responsibilities, making it an attractive addition to any portfolio. The property is offered as a 1031 exchange opportunity.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,665,000
- ML approach
- $1,685,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Licking
- State
- Ohio
- Longitude
- -82.4826
- Latitude
- 40.0554
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$21,711
$169,400
$162,020
$331,420
-
$484,000
$462,900
$946,900
